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Decimalization Issue Not Dead
By David Feldman at 11 December, 2012, 10:30 am
We learn from The DealFlow Report that the SEC has scheduled a roundtable on the issue of decimalization of stock prices, which may include discussion of possible pilot programs to try different plans to increase “tick sizes” between bid and ask prices in the markets. The Jumpstart our Business Startups (JOBS) Act required the SEC [...]
Read More >>Head of SEC Corp. Fin. Meredith Cross Leaving
By David Feldman at 6 December, 2012, 2:27 pm
In the latest in a series of high level departures, Director of the SEC’s Division of Corporation Finance, Meredith Cross, announced Tuesday that she is leaving the SEC by the end of the year. There is no successor or interim director appointed yet that we know of. This follows the announcement of SEC Chair Mary [...]
Read More >>Flash: SEC Charges Top CPA Firms with Securities Violations re China
By David Feldman at 3 December, 2012, 5:58 pm
The Securities and Exchange Commission today announced that it is charging affiliates of the “big four” accounting firms (as well as BDO) with securities violations for failing to turn over work papers regarding audits they conducted of Chinese companies owned by US public companies. The SEC and the Public Company Accounting Oversight Board (PCAOB), which [...]
Read More >>Crowdfunding Rules Could be Delayed
By David Feldman at 3 December, 2012, 10:57 am
We learn from today’s DealFlow Report that many are saying it could be a year or more before the SEC releases the much-awaited rules under the Jumpstart our Business Startups (JOBS) Act which will hopefully unleash a torrent of small equity financings through crowdfunding. Technically, the JOBS Act requires the SEC to deliver those rules by [...]
Read More >>SEC Chair-Designate Elisse Walter Could Remain for a Year or More
By David Feldman at 3 December, 2012, 7:27 am
There has been a minor hubbub about what exactly SEC Commissioner Elisse Walter was appointed as following the planned resignation of current Chair Mary Schapiro. First the White House said she would be the “designated” Chair, not interim or acting, while the President looks for someone else (he has the right to appoint the Chair). [...]
Read More >>Flash: Schapiro Stepping Down as SEC Chair
By David Feldman at 26 November, 2012, 4:16 pm
SEC Chairman Mary Schapiro announced this morning that she is leaving her job effective December 14. This was widely expected. The short span from announcement to departure was not as widely expected. Rumors floating name a Treasury undersecretary as a possible replacement. In the meantime, SEC Commissioner Elisse Walter will serve as interim SEC Chair, said the [...]
Read More >>Reverse Merger Market Improving
By David Feldman at 23 November, 2012, 8:54 am
We learn from the latest DealFlow Report that November has already been the best month for reverse mergers since June. Eight deals have already been completed this month. If one more gets done then it will tie November of last year. There is no question that bad press and last year’s addition of the “seasoning” [...]
Read More >>The (Good?) Old Days Part VI – Speech Recognition
By David Feldman at 17 November, 2012, 3:31 pm
As I try to be slightly ahead of the curve I am here to say that much is about to change in the world of technology in the 10 or so years to come. Namely: thanks in part to Apple’s dive into the speech recognition software world with the introduction of Siri in iPhones, I think [...]
Read More >>Highlights from SEC Small Business Conference Part II
By David Feldman at 15 November, 2012, 6:36 pm
Here are more take-aways from today’s SEC conference. 1. Many are asking for the SEC to try to provide a “safe harbor” that’s nonexclusive to ensure that a company has verified an investor’s accredited status if the company chooses to advertise or generally solicit for investors as will soon be permitted thanks to JOBS. 2. [...]
Read More >>Highlights from SEC Small Business Conference Part I
By David Feldman at 15 November, 2012, 6:35 pm
I am headed back to the soggy Big Apple following the SEC’s annual small business conference. If you’re waiting for the big news, there really wasn’t any. But there was useful and interesting discussion and, as always, some good recommendations made by the attendees. Here are a few tidbits in several blog entries: 1. SEC [...]
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